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NH store uses $2 bills and 50¢ coins
The Manchester Union Leader had a front-page, above-the-fold story
yesterday about a merchant in Colebrook NH who uses half-dollars and $2 bills as "normal money" at his store. http://www.unionleader.com/article.a...+merchant+make s+his+money+work+for+him&articleId=c6b01735-f0cc-48ab-89e4-954bf713b0ac Paul |
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NH store uses $2 bills and 50¢ coins
On Jul 6, 2:08*pm, Paul Anderson wrote:
The Manchester Union Leader had a front-page, above-the-fold story yesterday about a merchant in Colebrook NH who uses half-dollars and $2 bills as "normal money" at his store. http://www.unionleader.com/article.a...+merchant+make s+his+money+work+for+him&articleId=c6b01735-f0cc-48ab-89e4-954bf713b0ac Paul These are the two "odd" denominations they SHOULD be concentrating on getting circulating. NOT dollar coins. We already have $1 bills, but we do not have a 50 cent bill or a $2 coin circulating, so, lets concentrate on getting a couple forms of currency who's DENOMINATION does not even circulate. We already have a "$1 unit" circulating, so I think we need to worry more about a 50 cent unit and a $2 unit circulating, more than trying to fight over "which $1 unit should circulate" Besides, at least most regular cash registers have $2 bill slots and half dollar coin slots. No need to worry about $1 coins, as they TRUELY ARE "the unit of currency with no space for it in the cash register" |
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NH store uses $2 bills and 50¢ coins
On Jul 6, 3:57*pm, Drago the Wolf wrote:
On Jul 6, 2:08*pm, Paul Anderson wrote: The Manchester Union Leader had a front-page, above-the-fold story yesterday about a merchant in Colebrook NH who uses half-dollars and $2 bills as "normal money" at his store. http://www.unionleader.com/article.a...+merchant+make s+his+money+work+for+him&articleId=c6b01735-f0cc-48ab-89e4-954bf713b0ac Paul These are the two "odd" denominations they SHOULD be concentrating on getting circulating. NOT dollar coins. We already have $1 bills, but we do not have a 50 cent bill or a $2 coin circulating, so, lets concentrate on getting a couple forms of currency who's DENOMINATION does not even circulate. We already have a "$1 unit" circulating, so I think we need to worry more about a 50 cent unit and a $2 unit circulating, more than trying to fight over "which $1 unit should circulate" Besides, at least most regular cash registers have $2 bill slots and half dollar coin slots. No need to worry about $1 coins, as they TRUELY ARE "the unit of currency with no space for it in the cash register" Oh, and need I mention that ALL self-checkout and vending machines made today, tomorrow and beyond SHOULD be equipt to accept and dispense $2 bills and halves as needed? I think NOT. |
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NH store uses $2 bills and 50¢ coins
"Drago the Wolf" wrote:
Oh, and need I mention that ALL self-checkout and vending machines made today, tomorrow and beyond SHOULD be equipt to accept and dispense $2 bills and halves as needed? Shall we send you the bill to modify all these machines? Simple truth. The majority of people living in the U.S. have never thought of a half-dollar as a circulating coin, because they had for all practical purposes stopped circulating years before they were born. I don't know when the $2 bill last saw widespread circulation, but it wasn't in my lifetime. There's just no perceived need for either denomination. Unless and until the next round of double digit inflation, inertia will rule. -- Mike Benveniste -- (Clarification Required) Its name is Public opinion. It is held in reverence. It settles everything. Some think it is the voice of God. -- Mark Twain |
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NH store uses $2 bills and 50¢ coins
On Jul 6, 10:19 pm, "Michael Benveniste" wrote:
"Drago the Wolf" wrote: Oh, and need I mention that ALL self-checkout and vending machines made today, tomorrow and beyond SHOULD be equipt to accept and dispense $2 bills and halves as needed? Shall we send you the bill to modify all these machines? No, you shalln't. These machine companies have been a round PLENTY of DECADES, to make modifying these machines, chump change. They can spend a few millions or tens of millions of dollars to change "how" they make their machines. After the first time they change their machine manufature technique, the cost is over. Its not like the issues I addressed about "redesigned" money, where they'd have to reprogram machines to take the new designs. But do not go telling me that the vending industry has not been around long enough to be able to pay for these modifications, that would also "gain" them more money in the long run. Not "much" more money, but more is better than less. Simple truth. The majority of people living in the U.S. have never thought of a half-dollar as a circulating coin, because they had for all practical purposes stopped circulating years before they were born. I an before those times, but I would STILL STRINGLY love to see halves in general circuation again, and even though they want to mint "more" quarters with all of these damn programs going on, making halves circulate would save probably hundreds of thousands to millions of dollars a year, due to dealing with less quarters. Sure, a half uses about a much metal as a quarter does, but a circulating half would also SAVe vendors money, such as parking meter companies if people used halves instead of quarters, because they would STILL be using LESS coins. So, vendors would probably be a lot happier having to make less trips to their machines to empty the quarter tubes. I don't know when the $2 bill last saw widespread circulation, but it wasn't in my lifetime. There's just no perceived need for either denomination. Unless and until the next round of double digit inflation, inertia will rule. The same reason for the half, and the reason they reissued the $2 bill in the first place: TO SAVE MONEY. They just had no idea that people would reject $2s after all the time they were not used. This was said in a coin and currency book I once read. They said that the government had hoped to save millions by taking half of the load off the $1 bill's back. But they never really seem to have "encouraged" the circulation of the half or $2, which they should now do, with inflation and all. My simple truth is that, banks and the FED SHOULD have a policy in place where the FED send so much of ALL denominations to banks INCLUDING halves and $2s, and the small banks SHOULD hand out $2s and halves as needed, as their policy, and what else should be included in their policy is, what ever change you are given, is what you get. They should not give people "those two quarters, or those four $1 bills" if they request them. Except in cases where you are a store who needs their "singles" or quarters, but they should still be also getting a suply of $2s and halves along with those quarters and $1s. But you should also STILL be able to request certain "higher" bills, like say you want it in $5s, $10s, $20s, $50s, $100s, or a higher denomination, should the U.S. ever issue one again. THAT would be acceptable. But common people who are just cashing a check or withdrawing a certain amount of money should be given a half, and/or one or two $2s as needed. People can, and will get over accepting a new denomination or two, and may even start to "like" it. -- Mike Benveniste -- (Clarification Required) Its name is Public opinion. It is held in reverence. It settles everything. Some think it is the voice of God. -- Mark Twain |
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NH store uses $2 bills and 50¢ coins
On Jul 6, 6:58*pm, Flame wrote:
Paul Anderson wrote in newsaulranderson- : The Manchester Union Leader had a front-page, above-the-fold story yesterday about a merchant in Colebrook NH who uses half-dollars and $2 bills as "normal money" at his store. http://www.unionleader.com/article.a...+merchant+make s+his+money+work+for+him&articleId=c6b01735-f0cc-48ab-89e4-954bf713b0ac Paul The US should look at the route Canada took. We abandoned the $1 bill in favor of a $1 coin in the 70's and saved millions in printing costs as the coins last decades longer. We did the same to our $2 bill in the 80's. I am a bill collector and miss new issues of both denominations but I can't ignore the savings to the government by making this change. Also, as the US has proved a couple of times, you can not make a $1 coin be accepted unless you withdraw the paper equivalent at the same time. As for 50 cent coins - they exist up here but are just as rare in circulation. Flame 50 cent coins will never circulate because they do not work in vending machines. Everyday vending machines cannot accommodate such a huge coin. They already accommodate the small dollar coin. The vending mechanisms are identical for the USA and Canada and there are internal switches to set programming ("USA Only" or "USA/CAN"). An internal switch cannot magically make the internal tubes and coin pathways larger to accommodate the half dollar coin. Twos can circulate and have slowly increased in circulation (mainly because of the Web, not USENET whic virtually everyone has abandonded). Halves will never increase in circulation. And dollar coins are already in use and circulating. In the USA they have not "replaced" the rag dollar, but they are used in a variety of applications including vending machines for parking lots, mass transit, snacks, coin-op laundry, coin-op pool tables, etc. and some folks actually use them as gasp "money" when buying stuff at stores and restaurants. Canada and Euroland knew what to do: eliminate the unit paper denomination and use the coin. Savings are not just in pringint cost, but also in seignorage profit vs. the cost of borrowing to issue a Federal Reserve Note. Seignorage for a huge half dollar coin is not worth it, especially when consumers will be unable to use them in any vending machine. There is one business that would *LOVE* a flood of halves into consumers pockets: COINSTAR. They will reap huge profits when consumers dump their halves into the machines and pay the 9-point-whatever percent fees. |
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NH store uses $2 bills and 50¢ coins
50 cent coins will never circulate because they do not work in vending machines. Everyday vending machines cannot accommodate such a huge coin. They already accommodate the small dollar coin. The vending mechanisms are identical for the USA and Canada and there are internal switches to set programming ("USA Only" or "USA/CAN"). An internal switch cannot magically make the internal tubes and coin pathways larger to accommodate the half dollar coin. Oh Fred, please, We had already discussed that there was a way to equip ALL vending machine to take a U.S. $2 coin, should the $1 rag go, and the $2 rag bocome more popular, so popular in fact, that the U.S. would replace it with a $2 coin as Canada did YOU SAID "Vending machines can be "taught" to accept a U.S. $2 coin, just as they can and likely are, equipt to accept Canadian $2 coins" and get this, I measured and compared a Canadian $2 coin to a U.S. half, and the diference in size of the "Canadian $2 coin Vs. the U.S. half" is roughly the same size. Actually the U.S. half IS a little bit bigger BUT it is an EVEN SMALLER difference than a "U.S. or Canadian $1 coin Vs. a U.S. or Canadian quarter" So IF we do ever get a $2 coin, here in the U.S., while they are upgrading machines to take our new $2 coins, they SHOULD also add a half tube to the machines. It can NOT possibly cost all that much to add two new coin tubes if the vendor is already adding "one" coin tube anyway. So, install two tubes (on for halves and one for $2 coins) and replace each vending macing faceplates to take the larger coin. I see many cases where a half would come in WAY more handy than two quarters. There are those gumball and mini-toy machines that charge 50 cents to get one item, and is paid for with two slots for two quarters. That (using two quarters instead of ONE half) creates DOUBLE the chances of that machine jamming up, should one, or both coin slots fail to tak those two quarters for some reason. Then the vendor has to come out to fix the problems, costing him money that would not "totally" eliminate the risk, but it WOULD cut that "risk" in "half" (No pun intended) Twos can circulate and have slowly increased in circulation (mainly because of the Web, not USENET whic virtually everyone has abandonded). Halves will never increase in circulation. And dollar coins are already in use and circulating. In the USA they have not "replaced" the rag dollar, but they are used in a variety of applications including vending machines for parking lots, mass transit, snacks, coin-op laundry, coin-op pool tables, etc. and some folks actually use them as gasp "money" when buying stuff at stores and restaurants. Canada and Euroland knew what to do: eliminate the unit paper denomination and use the coin. They ALSO learned to issue 200 and 500 paper units in Euroland, at least. Yet ANOTHER thing we Americans NEED to do. Savings are not just in pringint cost, but also in seignorage profit vs. the cost of borrowing to issue a Federal Reserve Note. Seignorage for a huge half dollar coin is not worth it, especially when consumers will be unable to use them in any vending machine. There is one business that would *LOVE* a flood of halves into consumers pockets: COINSTAR. They will reap huge profits when consumers dump their halves into the machines and pay the 9-point-whatever percent fees.- Hide quoted text - Yes Fred, *evil grin*, Remember, EVEN coinstar machine could NOT take dollars OR "halves" at one time, and I remembered how they "upgraded" their machines to take BOTH odd denominations. SO, if "they" can reprogram and equip "their" machines to take halves, then I must ask, "What's stoping ALL other vendors from upgrading for halves?" Seriously, I do LOVE the $1 coin, and I REALLY wish we could get rid of $1, $2, and possibly $5 bills, in favor of coins, IF the $5 coin did not "kill" the $2 coin's circulation. However, I just do NOT see the government getting rid of the rag dollar. You told me all of these "wonderous stories" about Congress introducing legislation to get rid of both the rag dollar and the cent, as early as late 2008. And don't say you didn't say that, because you told me that in an email. Well, its more than half way through 2010, and closer than further to 2011, so, WHERE is this legislation at? I check the internet A LOT to see if I can find anything about abolishing $1 bills in favor of dollar coins, but have so far, picked up NOTHING. Where is your proof that the Obama Administration is legislating the elimination of the $1 rag and the Zincoln? They really SHOULD do this, since they are always looking for way to save money, so, why have they not considered this issue/option to save money? Its a simple solution, yet you do not see anyone in Congress advocating it anymore, as if they have given up for ever. I am sorry Fred, but I want to see some "proof" of your words. All I am saying is that ALL VENDING MACHINES, MANUFACTURED TODAY, TOMORROW, AND BEYOND, SHOULD BE MADE TO ACCEPT HALVES. (And I am NOT "yelling" in those "caps" I just wanted to get my "point" along.) Half dollar denomination coins, as well as $2 bills ARE a JUSTIFIED denomination. Otherwise the U.S. government would not have even "authorized" these two denominations. Especially seeing as the govenrnent dropped their plans they originally had, to authorize printing $3 bills. Maybe IF they get rid of the one cent coin, they could redesign the half to be the size of the cent, but maybe a bit "thicker" than a cent, but still copper plated OR a "polygon shape" similar to the Canadian $1 coin, so that, even if they still make the half a "silver" colored coin, you could easily tell a half from a cent by thickness and shape. Or, eliminate the cent, make the nickel the size of the cent, and make the half the size of the nickel. Problem solved, as far as "that huge coin" issue goes. - Show quoted text - |
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NH store uses $2 bills and 50¢ coins
On Tue, 6 Jul 2010 22:19:54 -0400, "Michael Benveniste"
wrote: "Drago the Wolf" wrote: Oh, and need I mention that ALL self-checkout and vending machines made today, tomorrow and beyond SHOULD be equipt to accept and dispense $2 bills and halves as needed? I don't know when the $2 bill last saw widespread circulation, but it wasn't in my lifetime. There's just no perceived need for either denomination. Unless and until the next round of double digit inflation, inertia will rule. Well, it's just one data point, but I just asked my mom, who started working as a cashier in the mid 40's. She said she saw maybe one a month in the 40's and 50's. That makes sense, because if I look at http://www.uspapermoney.info/serials/all___b.html it looks like there were just over half a billion deuces printed between 1928 and the last delivery of the $2 USN's in 1965. That's less that the number of 1957B $1 SC's printed. take care, Scott |
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